Roth Mkm Reiterates Buy Rating for Snap-on (NYSE:SNA)

Roth Mkm restated their buy rating on shares of Snap-on (NYSE:SNA) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $324.00 target price on the stock.

A number of other brokerages have also recently issued reports on SNA. Barrington Research reiterated an outperform rating and set a $325.00 price objective on shares of Snap-on in a research note on Tuesday. Robert W. Baird dropped their price objective on Snap-on from $282.00 to $275.00 and set a neutral rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $315.00.

Snap-on Trading Up 0.1 %

NYSE:SNA opened at $270.90 on Tuesday. Snap-on has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $268.08 and a two-hundred day moving average price of $277.52. The company has a market cap of $14.28 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.89 EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, analysts expect that Snap-on will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Jesus Arregui sold 8,434 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares in the company, valued at approximately $66,822.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,632 shares of company stock worth $10,353,409. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in Snap-on during the 4th quarter worth $30,000. BKM Wealth Management LLC bought a new position in Snap-on during the 4th quarter worth $33,000. Opal Wealth Advisors LLC bought a new position in Snap-on during the 2nd quarter worth $30,000. Exchange Traded Concepts LLC bought a new position in Snap-on during the 4th quarter worth $43,000. Finally, Fortitude Family Office LLC bought a new position in Snap-on during the 4th quarter worth $49,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.